Question

sham deposits an amount of Rs. 40,000 in a bank at rate of 10% for 5 years find the total amount he gets Back at the end of 5 years​

Answer 1

Answer:

$p = 40000 \\ r = 10 \\ n = 5 \times 12 = 60 \\ i = p \times \frac{n(n + 1)}{2 \times 12} \times \frac{r}{100} \\ = 40000 \times \frac{60(60 + 1)}{2 \times 12} \times \frac{10}{100} \\ = 2000 \times 5 \times 61 \\ = 2000 \times 305 \\ = 610000 \\ maturity \: amount = p \times n + i \\ = 40000 \times 60 + 610000 \\ = 2400000 + 610000 \\ = 3010000$